Is leasing a car right for me?
Car leasing benefits include:
Cover by the manufacturer's guarantee
No obligation to own the car or make more payments after your contract expires
Some companies deliver the car to your home
Some deals may also include road tax and maintenance packages to cover servicing and scheduled maintenance.
Here are some other factors to be aware of:
- You won't own the car at any point. And beyond wear and tear, you're liable to pay for any damage to the car.
- Stick to the agreed annual mileage limit. If you go over the agreed amount you may incur charges.
- If you decide to end the lease deal early, there'll be an early settlement fee.
Need more help?
Once your contract is up and you've returned the car to the leasing company, you're free to take up a new PCH deal and lease a completely new car.
Much like Personal Contract Hire, a BCH agreement is paid with a fixed monthly cost over a set number of months. The terms are agreed beforehand by the car leasing company and the business.
But it does mean you won't own the car outright when the lease ends. You should always think carefully about what's best for your personal and financial situation before entering into any financial agreement.
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